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Dec 27, 2012
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yun, are any other mortgage housing related issues affected by the fiscal cliff? you talk about the potential of the mortgage tax deduction, but what about on january 1, are there any other tax changes for program changes we should be aware of? guest: the extension of the mortgage forgiveness should be extended. this is referring to people who are under water, they need to sell their house, so they need a short sale approval where the bank would forgive their debt of. the underwater of from the point of view of the irs, they consider that taxable. taxable if the extension is not prolong. so that is people who went through a difficult time and went through a short sale, they went through a very stressful financial times and for the irs to say now you have an additional taxable income, does not make sense. we have a bipartisan support to extend this. hopefully we can find a vehicle to attach it to and get it extended. it's only $1 billion price tag. a very small amount compared to the $1 trillion budget deficit we have been running. host: you have been quoted as say
yun, are any other mortgage housing related issues affected by the fiscal cliff? you talk about the potential of the mortgage tax deduction, but what about on january 1, are there any other tax changes for program changes we should be aware of? guest: the extension of the mortgage forgiveness should be extended. this is referring to people who are under water, they need to sell their house, so they need a short sale approval where the bank would forgive their debt of. the underwater of from the...
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Dec 29, 2012
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guest: the house is back to deal with the fiscal cliff bill. the hope to supporters of the sandy supplemental is the house would do something on the fiscal cliff package and somehow they could use that as an opportunity to get the sandy bill through. the chance for the fall supplemental to be passed before the end of the year, it will either be a smaller amount or they will not touch it at all. the senate will have to start over next year. host: raymond hernandez rights that leaders from the hurricane- battered region and urged the house to act. he says states need an infusion of aid to continue cleanup and rebuilding efforts. it sounds like an unusual move. all of these governors are working together as opposed to saying separately "this is what i need." guest: you have a lot of the personalities representing the victims of sandy. they have pulled together effectively after the first few weeks after the storm. they have generally been pushing the same direction. the problem the victims of sandy have in new jersey and new york is there represen
guest: the house is back to deal with the fiscal cliff bill. the hope to supporters of the sandy supplemental is the house would do something on the fiscal cliff package and somehow they could use that as an opportunity to get the sandy bill through. the chance for the fall supplemental to be passed before the end of the year, it will either be a smaller amount or they will not touch it at all. the senate will have to start over next year. host: raymond hernandez rights that leaders from the...
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Dec 28, 2012
12/12
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he said the house has passed legislation to avert the fiscal cliff. now the senate must act. senator reid said it is up to the house. explain what is going on. guest: i cannot read john boehner's mind. let's say the senate takes up something where you extend all the rates for a year but you increase the rates for people making $500,000. let's say that passes the senate. 75 votes. they sent it to the house. are republicans in the house going to be that obstinate if the senate sends that kind of signal? i do not think so. that is what a lot of us watch mitch mcconnell very closely. there are people in his caucus who early to vote for what i just said. can they get it on the floor and overcome the procedural hurdles? host: if nothing happens, what are we looking at? guest: january 3 at noon. there are so many scenarios. if the new congress convenes on the third, negotiations continue. democrats would have more strength. they have gained 7 or eight seats. i think the key if they go over the cliff will be the financial markets. if the market go into a panic and if the dow tumbles
he said the house has passed legislation to avert the fiscal cliff. now the senate must act. senator reid said it is up to the house. explain what is going on. guest: i cannot read john boehner's mind. let's say the senate takes up something where you extend all the rates for a year but you increase the rates for people making $500,000. let's say that passes the senate. 75 votes. they sent it to the house. are republicans in the house going to be that obstinate if the senate sends that kind of...
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Dec 31, 2012
12/12
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live coverage of the house at 9:00 a.m. we will continue our conversation on the fiscal cliff. maya macguineas is going to be with us. later we will turn our attention to a new movie on the raid that killed osama bin laden and talking with linda robinson who is an author as "washington journal" continues. it is monday, december 31. .e'll be back in just a moment [video clip] >> as president obama begins his second term in office, what is the most important issue he should consider for 2013? >> so tell us. if you're in grade sixth through 12, make a short video about your message to the president. >> it's c-span's student cam video competition with your chance to win the grand prize of $5,000. and there is $50,000 in total prizes. the deadline is january 18. for more information, go to studentcam.org. >> a lot of people will say that ever since the apollo, the space program has been a jobs program. how many jobs can we get in your district, in your state? the space shuttle passed by one vote because it was passed all around the country. we had people working different places. i
live coverage of the house at 9:00 a.m. we will continue our conversation on the fiscal cliff. maya macguineas is going to be with us. later we will turn our attention to a new movie on the raid that killed osama bin laden and talking with linda robinson who is an author as "washington journal" continues. it is monday, december 31. .e'll be back in just a moment [video clip] >> as president obama begins his second term in office, what is the most important issue he should...
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Dec 26, 2012
12/12
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they have defense spending and perhaps fiscal cliff matters. the house is due in tomorrow as well. we do not have their schedule. both bodies of congress in over the weekend as well. here are the numbers to call for open phones. republicans, 202-585-3881. democrats, 202-585-3880. independents, 202-585-3882. "the richmond times dispatch" -- host: a lot more to tell you about in the papers today, including this piece about john kerry, the man who the president has nominated to become secretary of state. now the outgoing massachusetts senator. they go on in this piece in "usa today" -- harder choices loom. syria being a more intractable problem than libya. a tougher stance with china through the a share rebalancing . is now the time to me sure a firmer line does not lead to another war. writer a lot that the lays out in his piece. grace from alabama, good morning. caller: good morning. i have a question about benghazi. nobody has said anything like this. it seems to me, the president would get on the phone with the president of the other country and say, "please help us save our peopl
they have defense spending and perhaps fiscal cliff matters. the house is due in tomorrow as well. we do not have their schedule. both bodies of congress in over the weekend as well. here are the numbers to call for open phones. republicans, 202-585-3881. democrats, 202-585-3880. independents, 202-585-3882. "the richmond times dispatch" -- host: a lot more to tell you about in the papers today, including this piece about john kerry, the man who the president has nominated to become...
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Dec 30, 2012
12/12
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at 2:00 p.m., the house reopens. -- tonight or tomorrow, on monday -- that is our schedule, the fiscal cliff count down today. i want to turn out to nancy cook of the national journal. she is here to give us -- give us all the latest. her latest story -- and the cook, thank you for joining us. guest: thank you for having me. we are at this late hour. all of these tax hikes and spending cuts are slated to take defect in the new year. congress and the white house had spent seven weeks of bickering over all these different elements of the this clip. as you know, there are many elements. many tax provisions, a lot of spending cuts, and at this point, any deal that is reached will not deal with a lot of these things. it is going to potentially make some tax cuts for below $250,000. it will potentially patch the alternative minimum tax. it will not deal with the payroll tax holiday. the most likely will not deal with the sequester. it may earn -- it may or not deal with tax breaks for businesses. for all these arguments and ongoing things about these tax and spending issues, in the end, we w
at 2:00 p.m., the house reopens. -- tonight or tomorrow, on monday -- that is our schedule, the fiscal cliff count down today. i want to turn out to nancy cook of the national journal. she is here to give us -- give us all the latest. her latest story -- and the cook, thank you for joining us. guest: thank you for having me. we are at this late hour. all of these tax hikes and spending cuts are slated to take defect in the new year. congress and the white house had spent seven weeks of...